KYUDEN Holdings says it will be established on October 1 and listed through a technical listing on the Tokyo Stock Exchange Prime Market and the Fukuoka Stock Exchange as the new parent company for Kyushu Electric Power. Existing Kyushu Electric ordinary shareholders are to receive one KYUDEN ordinary share for each share they hold, and the filing lists 474,183,951 common shares to be issued.
| Feature | Detail |
|---|---|
| Planned establishment | October 1, 2026 |
| Listing route | Technical listing |
| Planned markets | Tokyo Stock Exchange Prime Market; Fukuoka Stock Exchange |
| Common shares to be issued | 474,183,951 |
| Allocation to Kyushu Electric ordinary shareholders | 1 KYUDEN ordinary share for each 1 Kyushu Electric ordinary share |
| Provisional registered amount | ¥503.7bn |
| Capital to be added | ¥237.3bn |
| Planned representative director and president | Masaru Nishiyama |
| Planned total share count | 474,185,951 |
| Of which Class B preferred shares | 2,000 |
The filing also explains why the route matters. It defines a technical listing as a faster path for securities issued by an unlisted company that becomes the full parent of a listed company through a merger, share exchange or share transfer, provided the listing application is made within six months of the effective date and the exchange confirms liquidity standards. In short, the legal parent changes first, then the listing is meant to follow quickly.
The biggest yen figure in the document, ¥503.7bn, comes with a caveat. The filing says the registered amount is not yet fixed and uses a provisional number based on Kyushu Electric's shareholder equity at March 31, less the issue price of Class B preferred shares. Of the eventual issuance value, ¥237.3bn is set to be added to capital.
For readers outside Japan, the practical point is the corporate structure. If the plan goes through, investors will hold stock in a newly listed parent above Kyushu Electric Power from October, while the operating utility remains underneath. The filing is heavy on mechanics because it tells shareholders what they are meant to own and where that stock is meant to trade from day one. The filing names Masaru Nishiyama as the planned representative director and president of the new entity. It also discloses seven male officers and three female officers, a 30% female ratio.
Two caveats remain in plain sight. First, KYUDEN Holdings is still not yet established, the filing says October 1 is the planned start date. Second, the future capital structure is broader than the ordinary-share headline. The filing shows 474,185,951 total shares, including 2,000 Class B preferred shares, and says provisions for those preferred shares are to be added to the company's articles. The structure is clear, but the registered amount is still described as provisional rather than final.